Shopify Inc. $SHOP Holdings Trimmed by STF Management LP

STF Management LP trimmed its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 58.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,109 shares of the software maker’s stock after selling 10,066 shares during the period. Shopify accounts for 1.1% of STF Management LP’s investment portfolio, making the stock its 20th biggest holding. STF Management LP’s holdings in Shopify were worth $1,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares in the last quarter. AQR Capital Management LLC grew its stake in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after acquiring an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after acquiring an additional 506 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Shopify during the 2nd quarter valued at about $53,000. Finally, Main Street Financial Solutions LLC grew its stake in Shopify by 15.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after acquiring an additional 1,479 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a report on Wednesday, February 11th. Truist Financial set a $150.00 price target on shares of Shopify and gave the company a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings cut shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Benchmark lowered their price target on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.42.

Shopify Trading Up 2.9%

Shares of NASDAQ:SHOP opened at $100.28 on Friday. The stock has a market capitalization of $130.13 billion, a PE ratio of 99.29, a P/E/G ratio of 2.81 and a beta of 2.64. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The firm has a fifty day moving average price of $119.12 and a 200 day moving average price of $138.41.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.